Question

Based on his salary, Kevin knows that he will have $336.00 withheld from his paycheck for federal income tax. He would like to have approximately $70.00 withheld for state income tax. Which of the following withholding options should he choose for state income tax?
a. 18% of federal income tax
b. 21% of federal income tax
c. 25% of federal income tax
d. 29% of federal income tax

Answer 1

Answer:

b. 21% of federal tax

Step-by-step explanation:

70/336 × 100% ≈ 20.83% ≈ 21%

If Kevin is choosing a percentage of federal income tax, then 21% would be the appropriate choice.

_____

Comment on the question

Most withholding forms allow the choice of a percentage or a fixed dollar amount. It might be appropriate for Kevin to choose the amount of $70, rather than a percentage of income or federal tax.

Answer 2

The state income tax is $21\%$ of the federal income tax. Option (b) is correct.

Further Explanation:

Given:

The options of the federal income tax are as follows.

(a).$18\%$ of the federal income tax.

(b).$21\%$ of the federal income tax.

(c).$25\%$ of the federal income tax.

(d).$29\%$ of the federal income tax.

Explanation:

The paycheck for federal income tax is $\ 336.00$ and the state income tax is $\ 70.$

The percentage of state tax can be calculated as follows,

$\begin{aligned}Percentage&= \frac{{70}}{{336}} \times 100\\&= 0.2083 \times 100\\&= 20.83\% \\\end{aligned}$

The state income tax is 21\% of the federal income tax. Option (b) is correct.

Option (a) is not correct as the federal income tax is $21\%.$

Option (b) is correct as the federal income tax is $21\%.$

Option (c) is not correct as the federal income tax is $21\%.$

Option (d) is not correct as the federal income tax is $21\%.$

Learn more:

1. Learn more about inverse of the functionhttps://brainly.com/question/1632445.

2. Learn more about equation of circle brainly.com/question/1506955.

3. Learn more about range and domain of the function brainly.com/question/3412497

Answer details:

Grade: College

Subject: Mathematics

Chapter: Investment

Keywords: Information, sales tax, property tax, paid, earned money, additional tax, income tax, withheld for taxes, wages, tax statement, state income tax, federal income tax, Kevin, salary, paycheck, $\ 336$,$\ 70.$